Natixis Has $7.02 Million Stake in Manulife Financial Co. (NYSE:MFC)

Natixis increased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 25.7% during the fourth quarter, Holdings Channel reports. The fund owned 228,521 shares of the financial services provider’s stock after purchasing an additional 46,775 shares during the period. Natixis’ holdings in Manulife Financial were worth $7,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MFC. Crews Bank & Trust acquired a new position in shares of Manulife Financial during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Manulife Financial in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth about $34,000. Golden State Wealth Management LLC bought a new position in shares of Manulife Financial during the 4th quarter valued at about $35,000. Finally, CKW Financial Group acquired a new position in shares of Manulife Financial in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.0 %

Shares of MFC opened at $28.60 on Monday. Manulife Financial Co. has a twelve month low of $22.96 and a twelve month high of $33.07. The stock has a market capitalization of $49.14 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.11 and a beta of 0.89. The company has a 50 day moving average of $29.73 and a 200-day moving average of $30.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion for the quarter. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a yield of 4.33%. The ex-dividend date was Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MFC. Royal Bank of Canada upped their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $45.50.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.